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Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
 After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Massive discounts offered by the repair facilities and aggressive commercial strategies are still present, while in most cases a reduced maintenance program is followed by Owners.
Shipping companies show almost no flexibility to the extend of service suggested by repair yards, trying to maximize the efficiency and effectiveness in all repair dilemmas such as deviation cost, way and extend of repairs, dry-docking timing. On the other hand, shipyards are trying and to control contractors’ cost in order to handle this negative downturn by minimizing the overtime cost, while at the same time they are providing sophisticated solutions as an ultimate way to tackle competitiveness. As a result of the above situation was the bankruptcy of well established subcontractors after offering good service for decades. The repair market is also facing a slight increase on the afloat and underwater works that are being carried out at anchorages. This is also the result of accumulated low-level maintenance during the previous years and the softer number of dry-dockings this year.
As far as the Greek market is concerned, Chinese yards remain on top of Owner’s choice. If we divide the Chinese region into three areas – south, middle and north – increase on the Greek share is witnessed in the FUJIAN HUADONG shipyard in south China, the XINYA shipyard in the middle Zhoushan area and SHANHAIGUAN shipyard in the northern part. The remainder of the southern shipyards seem to have focused into more niche markets like gas and oil carriers, with the majority of their customers coming from North Europe. A very common choice for the Greek market remains to the COSCO group of shipyards as well and particularly COSCO Zhoushan. Since the merge of COSCO with CIC CHINA SHIPPING a few months back, there has been no visible change in the repair market. For the time being, both groups are maintaining separate commercial headquarters with COSCO tendering unified for all the shipyards and CIC individually. Saying that, as far as the presence of both companies in the Posidonia exhibition is concerned, both groups were sharing the same booth.
Apart from China, Singapore and MEG shipyards are leading the niche vessels’ repair market. Following the merger of ex ‘Sembawang’ with ex ‘Jurong’, the competition between the two major groups, KEPPEL and SEMBCORP MARINE in Singapore remains fierce, resulting in significant discount from both sides. With the discounted prices offered by Singaporean yards and the overall proven expertise in terms of efficiency, quality and time, this region has also attracted the attention of Owners with conventional types of vessels when projects are free from major steel renewal. In Europe, Turkish shipyards are expanding their dry-docking capacity by purchasing new floating docks, with the millstone of a new VLCC dry-dock, which is doubling the capacity of the existing VLCC docks in the region. Finally, following the Turkish shipyards expansion, a new Brazilian shipyard in Vitoria with facilities to accommodate up to Capesize/Suezmax vessels is about to start its operation heating up the competition within the existing local regime.
Following up on recent trends, we can say that the laying up scheme has faded as a result of dry bulk freights covering marginally their OPEX and most of the laying up anchorages have been getting slimmer. As far as the ratification of the forthcoming ballast treatment regulations is concerned, with the exception of rumors, no solid policy has been announced yet, while the shipping market reaction to such ratification remains disputable.
By Vassilis Vassiliou
Ship-repair Broker, Interyards S. A.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
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